TD Cowen upgraded shares of Qorvo (NASDAQ:QRVO – Free Report) to a hold rating in a research note issued to investors on Monday, Zacks.com reports.
A number of other research firms have also commented on QRVO. Barclays raised their price objective on shares of Qorvo from $100.00 to $125.00 and gave the stock an equal weight rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on Qorvo from $105.00 to $118.00 and gave the company a neutral rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on Qorvo from $100.00 to $115.00 and gave the stock an underweight rating in a research note on Wednesday, July 31st. Susquehanna lowered their target price on Qorvo from $145.00 to $135.00 and set a neutral rating on the stock in a research note on Wednesday, July 31st. Finally, Craig Hallum increased their price target on shares of Qorvo from $124.00 to $142.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $121.00.
Read Our Latest Analysis on QRVO
Qorvo Stock Up 3.4 %
Qorvo (NASDAQ:QRVO – Get Free Report) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The firm’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. On average, equities analysts predict that Qorvo will post 4.84 EPS for the current fiscal year.
Insider Activity at Qorvo
In other Qorvo news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC acquired a new position in Qorvo during the 4th quarter valued at $227,000. Quadrant Capital Group LLC lifted its position in Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 150 shares during the period. Norges Bank acquired a new stake in Qorvo during the fourth quarter worth $118,120,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Qorvo by 3.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,653 shares of the semiconductor company’s stock valued at $1,312,000 after buying an additional 370 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Qorvo in the 4th quarter valued at $232,000. Institutional investors own 88.57% of the company’s stock.
About Qorvo
Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.
Further Reading
- Five stocks we like better than Qorvo
- What is a Stock Market Index and How Do You Use Them?
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- 5 Top Rated Dividend Stocks to Consider
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- Investing in Commodities: What Are They? How to Invest in Them
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.